Chesser Resources Limited reported on its maiden Mineral Resource estimate ("Resource") over Bougouda at the Diamba Sud Gold Project in Senegal, West Africa. The Diamba Sud Gold Project covers an area of 53.2km2 and is located in eastern Senegal within the highly prospective Senegal Mali Shear Zone orogenic belt. The Project is located 12km southwest of Barrick's Loulo mine (12.5 million ounces) and only 7km west of Barrick's Gounkoto mine (5.5 million ounces), both across the border in Mali.

Bougouda is located in the southern extent of the tenement approximately 14km south of the Area A and D resources and mineralization occurs within quartz-hematite-pyrite-carbonate veins that intrude through diorite over a strike of at least 650m. The Bougouda maiden Mineral Resource estimate was undertaken by Mr. Brenton McWhirter and Mr. Andrew Grove (MAIG) and including all drilling up to 4 July 2022 using Inverse Distance Squared ("ID2") estimation methodology. The Bougouda Resource has been reported in accordance with the JORC Code (2012) and is effective as of 25 August 2022.

The Open Pit Mineral Resources were reported within a pit shell using metal price assumptions of USD 1,800/oz gold, input parameters from the recently completed Scoping Study1 and were reported above a 0.5g/t gold cut-off grade ("COG"). Underground Resources were reported below the USD 1,800/oz gold pit shell and reported above a 3.0g/t gold COG to reflect the higher potential cost of underground mining. The key attributes of the maiden Mineral Resource at Bougouda are as follows: High-grade ounces: 52koz @ 4.7g/t gold which is relatively insensitive to changes in COG, High-value ounces: for future processing plant located on the main Diamba Sud tenement, 14km to the north, Continuous mineralization: mineralized structures continuous over +650m strike length and trends into neighboring Barrick tenement and Exploration upside: opportunities to extend mineralization at depth and identify similar mineralized structures.

The Phase 8 drill program has been completed and all assays have now been released. Maiden Mineral Resource estimate over Karakara plus an update of the Area D Mineral Resources have commenced and will be released once completed in Fourth Quarter 2022. Definitive Feasibility Studies are ongoing.